Fresno Industries Inc. manufactures and sells high-quality camping tents. The company began operations on January 1 and operated at 100% of capacity (200,000 units) during the first month, creating an ending inventory of 23,000 units. During February, the company produced 177,000 units during the month but sold 200,000 units at $540 per unit. The February manufacturing costs and selling and administrative expenses were as follows: Number of Unit Total Units Cost Cost Manufacturing costs in February 1 beginning inventory: Variable 23,000 $270.00 $6,210,000 Fixed 23,000 28.00 644,000 Total $298.00 $6,854,000 Manufacturing costs in February: Variable 177,000 $270.00 $47,790,000 Fixed 177,000 32.30 5,717,100 Total $302.30 $53,507,100 Selling and administrative expenses in February: Variable 200,000 21.50 $4,300,000 Fixed 200,000 3.00 600,000 Total 24.50 $4,900,000 This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. For the Month Ended February 28 Cost of goods sold: b. Prepare an income statement according to the variable costing concept for February. Enter all amounts as positive numbers. Fresno Industries Inc. Variable Costing Income Statement For the Month Ended February 28 $ Fixed costs